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Sideways with bullish tilt

marius24 Publié 31 mar comme Analyse sur EUR/GBP, Cible: 0.7241, Date: 1 de mai, 12:00 GMT  dans #Technical analysis #EUR/GBP #Psychological Level #Descending Channel #Low Inflation
Currency Pair:Eur/Gbp
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7243
Trend:downtrend
Possible trading range:0.70 - 0.75
Signals: A descending channel broken to the upside + a psychological level ( 0.70) might suggest that a bottom is on the table
Fundamentals: Any rate rise still looks to be some way off as long as there are real concerns that further rise in the pound could raise the risk of a prolonged period of very low inflation. ON the other side it seems…
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6 Commentaires
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marius24 avatar
marius24 16 avr

update: Current price - 0.7166. THat double top pattern mentioned by my last time has been broken to the downside around 0.7220 and it appears to target a much lower level at 0.71. The bond yield differential is the main cause of the current fall in this pair

marius24 avatar
marius24 19 avr

update: Current price- 0.7228. The price simply stopped from falling being very well supported around 0.7163. Anyway as long as the rate stays below that neckline spoken by me in the last update the outlook remains bearish. ON the 1 hour chart a bullish pattern which appears to be more a triple bottom than an inverted H&S may cancel any declines if we see a breakout higher above 0.7230

marius24 avatar
marius24 27 avr

update: Current price - 0.7156. The price continued to fall until 0.7115 and then some bulls appeared out of nowhere. Further dismal figures in US data have triggered a new round of throwing the dollar in the favour of Euro and pound. The technicals here remains bearish as long as we are below 0.7220, a level which represents the neckline of a massive double top situated on the 4 hour chart.

marius24 avatar
marius24 28 avr

update; Current price - 0.7160. ON the hourly chart an inverted head and shoulders has just appeared having its neckline around 0.7170. In case this resistance falls apart then there are big chances to see once again 0.72 zone. The fundamental seems tilted towards an upside move as Greece appears to end the deadlock. SO far there are only hopes. I remain bullish on this currency pair, but cautiously

marius24 avatar
marius24 29 avr

update: Current price - 0.7205. THe price has been driven higher on the back of slump in US GDP data which may push further the timing of the first rate hike. ANyway the FED has just said that the US economy has been slowed down by transatory factors. As long as the price stays below 0.7220 the bears are in the control.

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AUD/NZD Multi-Decade Support Level (part 5)

Daytrader21 Publié 15 mar comme Analyse sur AUD/NZD, Cible: 1.0633, Date: 1 de mai, 12:00 GMT  dans #Technical analysis #Support #AUD/NZD #Elliott Wave #Psychological Level
AUD/NZD is approaching a multi-decade support level at 1.0400 which I think will provide some good trading opportunities. In Figure 1 you can see the monthly chart and the strong sell of from the past few months. Since April 2013 after we broke the psychological level of 1.2100 big round number the downward momentum accelerate and we barely see any kind of retracement. But since we hit the 1.0500 level market has started to bottom and move inside some trading boxes, on top of each other. However…
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5 Commentaires
Daytrader21 avatar
Daytrader21 21 mar

Update 1: Unfortunately we broke to new lows and it may be the case that we're going to have an overextended wave 5. If next week we manage to recover the losses from previous week we're back in cards to hit out target. However we need a close above the 1.0400 level.

Daytrader21 avatar
Daytrader21 28 mar

Update 2: Since we haven't managed to close above 1.0400 and posted another bearish weekly bar, I suspect this pair is headed much more lower.

Daytrader21 avatar
Daytrader21 11 avr

Update 3: As expected we have gone lower and even tested the parity level from where we posted a low, which however must be confirmed by another bullish weekly candle

WallStreetBlog avatar
WallStreetBlog 29 avr

Good Job!

WallStreet6 avatar
WallStreet6 1 mai

really good analysis!

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AUD/NZD Multi Decade Support Level (part 4)

Daytrader21 Publié 12 oct comme Analyse sur AUD/NZD, Cible: 1.1347, Date: 1 de décembre, 12:00 GMT  dans #Technical analysis #AUD/NZD #Elliott Wave #Multi Decade Support #Psychological Level #Trading Boxes
AUD/NZD is approaching a multi decade support level at 1.0400 which I think will provide some good trading opportunities. In Figure 1 you can see the weekly chart and the strong sell of from the past few months. Since April 2013 after we broke the psychological level of 1.2100 big round number the downward momentum accelerate and we barely see any kind of retracement. But since we hit the 1.0500 level market has started to bottom and move inside some trading boxes, on top of each other.
…
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2 Commentaires
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Daytrader21 19 oct

Update 1: As expected wave D has completed and current swing low at 1.1000 should provide a strong support and the base for the next rally. For next week the resistance stands at 1.1100 which is where we opened last week

Daytrader21 avatar
Daytrader21 15 nov

Update 2: Since my last update not only that wave D has been completed but the entire sequence ABCDE has been completed which based on Elliott Wave we should now push higher and break above current congestion zone. Current resistance zone remains 1.1300 and we need a break and close above this level in order for the bullish sentiment to be in charge again

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